# Table 9: Mediation / Attenuation Test

| Specification | Z₁ | p-val | R² | Attenuation |
|---|---|---|---|---|
| Baseline | 52.32*** | 0.0001 | 0.2932 | — |
| + Governance control | 51.81*** | 0.0001 | 0.2981 | 1.0% |
| + Governance interactions | 58.92*** | 0.0000 | 0.2997 | -12.6% |